HSBC Appoints Annabel Spring as Chief Executive of Global Private Banking
8th September 2020 | Hong Kong
HSBC has appointed Annabel Spring as the new Chief Executive of HSBC Global Private Banking, one of the largest international private bank with more than $353 billion Assets under Management (AUM). Annabel will assume the role as Chief Executive with immediate effect, reporting to HSBC Chief Executive of Wealth & Personal Banking, Charlie Nunn.
” HSBC Appoints Annabel Spring as Chief Executive of Global Private Banking “
Annabel Spring, Chief Executive of HSBC Global Private Banking
In 2019, Annabel Spring had joined HSBC as the Group Head of Customer, Products & Strategy for Wealth & Personal Banking.
Prior to HSBC, She spent 9 years at Commonwealth Bank of Australia where she last held the role of Group Executive for Wealth Management. Before Commonwealth Bank of Australia, she was with Morgan Stanley and held numerous senior roles including Global Head of Strategy & Execution in New York, Hong Kong and Sydney. Annabel graduated with Bachelor of Laws and Bachelor of Economics from the University of Sydney, and an MBA from Harvard University.
HSBC Group Head of Strategy and Chief of Staff for WPB Taylan Turan
Current HSBC Group Head of Strategy and Chief of Staff for Wealth & Personal Banking, Taylan Turan, will be taking an additional role as Group Head of Customer, Products & Strategy for Wealth & Personal Banking, the role which Annabel is vacating.
Taylan has been with HSBC for the last 11 years, and held roles including Regional Head of WPB Europe and Global Head of Investments, Insurance and International. Prior to HSBC, he had held executive roles at Citigroup and Barclays. He graduated with Bachelor of Economics from Bogazici University, and an MBA from University of Chicago’s Booth School of Business.
Charlie Nunn, CEO of HSBC Wealth and Personal Banking:
“Annabel and Taylan will play an important role in accelerating the growth of our business as we continue to invest in our customer offering, technology and products. As we operate in some of the fastest-growing wealth markets in the world, Global Private Banking, a business with tremendous growth potential, is central to this ambition.”
HSBC Wealth & Personal Banking, Private Banking
HSBC Wealth and Personal Banking division was created earlier in 2020, when HSBC combined its retail banking and wealth management, asset management, insurance and private banking business units, to become one of the world’s largest global wealth managers with over $1.4 trillion (Q2 2020).
Global Private Banking, operate as a distinct business unit and brand, growing client assets in 1st half of 2020 to $353 billion and net new money (inflow) of $5.3 billion.
HSBC Wealth & Personal Banking Assets by Business Unit:
- HSBC Private Bank: $353 billion
- HSBC Retail Wealth: $357 billion
- HSBC Premier & Jade: $445 billion
- HSBC Asset Management: $263 billion
- Total: $1.4 trillion
HSBC is one of the largest banking and financial services in the world with more than $2.9 trillion assets. In 2019, it reported revenue and profit of $55.4 billion and net profit of $6 billion.
HSBC has a market capitalization of $84.5 billion (8th Sept 2020), and is listed on the stock exchange in London, Hong Kong, New York, Paris and Bermuda.
About HSBC Holdings
HSBC Holdings plc. the parent company of the HSBC Group. is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in our geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2.923 billion at 30th June 2020, HSBC is one of the world’s largest banking and financial services organisations.